Some of the world’s most luxurious residential properties are found in marina developments.

From Boston to London to Sydney, the waterside lifestyle has been gaining traction over the last few years among wealthy property buyers looking for an exceptional investment.

In SA, too, marina developments include some of the most sought after properties in the country delivering considerable capital growth over the last ten years.

What makes these developments so valuable is that there are only a handful of marina developments, when compared with the many golf estates in the country.

According to Pam Golding Properties (PGP) the marina developments at the V&A Waterfront in Cape Town are some of the most successful in the world. “From 2000 to 2008 this development delivered consistent combined capital growth of nearly 30% per year,” says Paul Levy, one of PGP’s area specialists for the V&A.

The residential component at the V&A Waterfront offers 500 units in 18 buildings, which are all at the waterside. The luxurious units range from 80sqm to 500sqm and entry-level prices are in the region of R3,95m.

Among the top prices being achieved by PGP in the area is a renovated unit in the Penrith building that was sold for R43m. It is roughly equal to R70k/sqm.

Basil Moraitis, area manager for PGP, says the V&A’s buyer profile changed over the last few months and it now includes a greater percentage of SA buyers. “Almost half of the owners were initially foreigners and for many their V&A properties were a third or fourth home.”

Lots of owners have sold their properties during the recent recession.

Properties at the Thesen Island marina development in Knysna have retained their value in the economic downturn, says Corlia Goris, manager of Engel & Völkers Knysna, which is marketing the properties.

This marina stretches over 90 hectares and consists of 19 man-made islands surrounded by canals covering 25 hectares that are connected by 21 bridges.

The development has 560 houses in total, which includes a sectional title component. Goris says some 20% of the owners permanently reside in Thesen. She says the entry-level is about R3m, but there is a super luxurious five-bedroom house with its own mooring dock on the market at R20m.

The St. Francis Bay marina development in the Eastern Cape, one of the country’s oldest marina developments, is now almost fully developed with no new phases on the horizon. This is good news for prices of existing properties in the development.

Richard Ardene, PGP’s area manager for St. Francis Bay, says the development entails 500 stands, of which fewer than 50 are undeveloped. He says for 90% of the owners in the development these are secondary investments.

The highest price achieved in the development is R21m, comfortably breaking the previous record of R7m.

He says the entry-level price is some R3m for an older house or a prime stand abutting the canal. – Elma Kloppers, Sake24

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Hey you left us out totally!

I live on the glorious Royal Alfred Marina in Port Alfred.

It was constructed 27 years ago..............360 stands, 290 houses and the entry level is R3 million.........the most expensive home here was built at a cost of R25 million last year.

What makes this marina so special, is that ALL the homes have a waterfront and jetties. – Bev